What's Happening?
Round Hill Music has announced the acquisition of select portions of the catalogs of Modern English and Vini Poncia. The deal includes publishing and master rights to Modern English's 1983 hit 'I Melt With You' and Poncia's publishing rights to his entire catalog, including the KISS classic 'I Was Made for Lovin’ You' and 'You Make Me Feel Like Dancing' by Leo Sayer. Financial terms of the acquisition were not disclosed. Round Hill CEO Josh Gruss expressed personal significance in acquiring Modern English's catalog, as they were the first band he saw live. The firm plans to explore ways to leverage Poncia's catalog, particularly in relation to the upcoming KISS avatar show.
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Why It's Important?
The acquisition by Round Hill Music highlights the ongoing trend of investment firms purchasing music catalogs, which can be lucrative due to the enduring popularity and licensing potential of classic hits. This move allows Round Hill to expand its portfolio and potentially increase revenue through sync opportunities in film, TV, and streaming platforms. The acquisition also underscores the value of music catalogs as assets that can continue to generate income long after their initial release, benefiting stakeholders such as artists, investors, and the music industry at large.
What's Next?
Round Hill Music is expected to explore various platforms to maximize the value of the acquired catalogs, including streaming services and sync opportunities in media. The firm may also consider collaborations or new projects that can further enhance the marketability of these classic songs. Stakeholders in the music industry will likely monitor how Round Hill leverages these assets, potentially influencing future catalog acquisitions and investment strategies.
